IVV vs PAVE
iShares Core S&P 500 ETF vs Global X US Infrastructure Development ETF
Which is better, IVV or PAVE?
Large Cap Blend against Mid Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y and 3Y, PAVE over 5Y and the full window. PAVE is less concentrated, with 31.7% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | PAVE |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.47% |
| AUM | $876.4B | $13.3B |
| Dividend Yield | 1.06% | 0.55% |
| Holdings | 508 | 102 |
| YTD Return | +11.03%Best | +7.98% |
| 1Y Return | +15.62%Best | +13.49% |
| 3Y Return (annualized) | +20.81%Best | +19.87% |
| 5Y Return (annualized) | +12.61% | +15.54%Best |
| Volatility (annualized) | 15.8%Best | 22.8% |
| Max Drawdown | -33.9%Best | -44.1% |
| $10,000 over 5 years | $18,109 | $20,590Best |
| Top 10 Weight | 37.8% | 31.7%Best |
| Fund Family | iShares by BlackRock (US) | Global X by mirae Asset |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Blend |
| Inception | May 15, 2000 | Mar 6, 2017 |
Volatility and max drawdown are measured over the window both funds cover: Mar 8, 2017 to Sep 16, 2026 (9.5 years).
IVV vs PAVE growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 9.5 years both funds cover.
IVV vs PAVE Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Global X US Infrastructure Development ETF (PAVE) is an ETF from Global X by mirae Asset. Over the past year IVV returned +15.62% while PAVE returned +13.49%. Year to date, IVV is up 11.03% versus a gain of 7.98% for PAVE.
Over three years, IVV compounded at +20.81% per year against +19.87% for PAVE; over five years the annualized figures are +12.61% and +15.54% respectively. Across the full 10-year window we track, PAVE has the edge at +14.94% annualized vs +13.84%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PAVE has been the more volatile fund, with annualized monthly volatility of 22.8% compared with 15.8% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.9% for IVV and -44.1% for PAVE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PAVE charges 0.47%. On a $10,000 position that is $3 vs $47 annually, a gap of $44 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.55% for PAVE.
Holdings Overlap
2.3% of IVV's money is in holdings PAVE also owns. 54.1% of PAVE's money is in holdings IVV also owns.
The two portfolios partly overlap.
24 positions in common, counted across the 490 positions we hold weights for in IVV and 100 in PAVE, against full books of 508 and 102.
What only one of them owns
Our book lists 73 positions for PAVE that do not appear in our book for IVV (41.1% of the fund), and 458 for IVV that do not appear in PAVE (96.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PAVE | Difference |
|---|---|---|---|
| DEDeere & Co Sedol 2261203 | 0.25% | 3.55% | 3.30% |
| FASTFastenal Co. | 0.09% | 3.38% | 3.29% |
| NUENucor Corp. | 0.09% | 3.34% | 3.25% |
| EMREmerson Electric Co. | 0.13% | 3.26% | 3.13% |
| UNPUnion Pacific Corp | 0.27% | 3.05% | 2.78% |
| PHParker-Hannifin Corp. | 0.19% | 3.08% | 2.89% |
| NSCNorfolk Southern Corp | 0.12% | 3.05% | 2.93% |
| PWRQuanta Services Inc | 0.14% | 2.99% | 2.85% |
| CSXCsx Corp. | 0.14% | 2.95% | 2.81% |
| TTTt Trane Technologies Plc | 0.15% | 2.94% | 2.79% |
54.1% of PAVE is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or PAVE?
IVV has an expense ratio of 0.03% while PAVE charges 0.47%. IVV is the cheaper option, by $44 a year on a $10,000 investment.
Which performed better, IVV or PAVE?
Over the past year IVV returned +15.62% vs +13.49% for PAVE, so IVV leads on 1-year performance. Over the longest common window we track (10 years), IVV annualized +13.84% vs +14.94% for PAVE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PAVE?
PAVE has been the more volatile fund at 22.8% annualized versus 15.8% for IVV. Worst drawdown: IVV -33.9% vs PAVE -44.1%.
Should I hold both IVV and PAVE?
IVV and PAVE have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and PAVE?
54.1% of PAVE's money is in holdings IVV also owns. 54.1% of PAVE's is in holdings IVV also owns. They hold 24 positions in common, counted across the 490 positions we hold weights for in IVV and 100 in PAVE.
Which pays a higher dividend, IVV or PAVE?
IVV yields 1.06% while PAVE yields 0.55%, so IVV currently pays the higher dividend yield.
Is PAVE better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and 3Y, PAVE over 5Y and the full window. PAVE is less concentrated, with 31.7% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.